Analysis by system type, technology, region size and trends with COVID-19 impact and forecast to 2027

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The global surveillance camera market in 2021 was valued at US$28. 02 billion. The market should reach US$45. 54 billion by 2027. Surveillance cameras are video cameras used for the purpose of observing an area.

New York, Sept. 09, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Global Surveillance Camera Market: Analysis by System Type, by Technology by Region Size and Trends with Impact of COVID-19 and forecast up to 2027″ – https://www.reportlinker.com/p06318350/?utm_source=GNW
They are often connected to a recording device or an IP network, and can be monitored by a security guard or law enforcement officer. The surveillance camera can protect individuals or businesses against theft, fire, flood or intrusion. In addition, the global surveillance camera market volume is expected to reach 524.75 million units in 2027, from 214.30 million units in 2021.

Due to increasing urban population, increase in criminal threats, growth in traffic management, technological improvements and increase in ATMs would drive the growth of the market in the coming years. The market is expected to grow at a CAGR of 8.38% during the forecast period 2022-2027.

Market Segmentation Analysis:

By System Type: The report provides market bifurcation on the basis of system type. On the basis of value, the market is divided into two segments: analog and IP surveillance cameras. In 2021, IP surveillance camera held a large market share of 65%. On the basis of volume, the market is bifurcated into the following segments based on system type: analog, commercial IP, consumer IP and other surveillance cameras. In 2021, Commercial IP Surveillance Camera held a large share of more than 40% in the market. On the other hand, the analog segment is expected to decline in the coming years due to the emergence of IP cameras, with many advantages.

By Technology: The report further provides market volume segmentation based on technology: Image Signal Processor, Vision Processor, and Vision Processor + AI Surveillance Camera. The image signal processor held more than 70% market share. Market expansion is driven by rising sales of home security systems, integration of artificial intelligence systems in surveillance cameras, and adoption of IoT-based surveillance systems. The AI ​​vision processors + surveillance cameras segment is expected to grow at the highest CAGR. Surveillance camera manufacturers are shifting from basic image processing to AI processing, which is expected to contribute to the growth of the global vision processor (+AI) camera market. The importance of artificial intelligence (AI) technology during the COVID-19 pandemic has increased dramatically, which has helped various sectors, especially healthcare, to provide real-time monitoring solutions.

By Region: The report provides an overview of the Security Cameras market based on regions i.e. Europe, North America, Asia-Pacific and Rest of the World. Asia-Pacific held the major share of more than 40% in the market owing to the increase in criminal activities and improved security of the people in the country.

In North America, the United States held the dominant share. The United States is one of the most surveilled countries in the world, with CCTV cameras installed in most public and private places. However, the retail and commercial end-user markets are estimated to have the highest number of cameras installed in the country. While in the Asia-Pacific region, Japan and China held a large share of the market, with public security agencies investing heavily in emerging technologies to provide effective security solutions in Japan.

Market dynamics:

Growth Factors: There has been a rapid growth in surveillance cameras in recent years in an effort to reduce and prevent criminal activity. Criminal cases decrease proportionally as more and more cameras appeared. Surveillance cameras can also deter crime by increasing the likelihood of arrest and punishment. Alarm notification is the best way for security cameras to work in crime prevention and reduction. Moreover, the market has been growing in recent years, owing to factors such as rapid urbanization, growing number of ATMs, growth in traffic management, technology improvement and development in the industry surveillance cameras, and many other factors.

Challenges: However, the market has faced some particular challenges, increasing privacy issues, high investment cost, etc.

Trends: The market is expected to grow at a rapid rate over the forecast period, owing to various latest trends such as integration of artificial intelligence systems in surveillance cameras, adoption of surveillance systems based on the IoT, the emergence of video surveillance as a service (VSaaS), etc. IoT systems are deployed in industries such as automotive, transportation, smart homes, energy, utilities, security, surveillance, public safety, financial services, retail, healthcare , industry, warehousing and distribution. The increasing adoption of IoT-based surveillance systems provides an overall growth opportunity to the global surveillance camera market.

COVID-19 impact analysis and way forward:

The global surveillance camera market has been impacted in many ways by the COVID-19 pandemic. In the wake of the COVID-19 pandemic, a wide range of surveillance cameras are proving to be an effective way to serve the purpose of social distancing and other purposes. To keep a check on COVID patients, surveillance camera has been used in COVID wards. Additionally, thermal monitoring has been initiated to check temperatures to prevent the spread of COVID infections in crowded areas.

Competitive Landscape:

The global surveillance camera market is dominated mainly by Chinese companies, Hikvision and Dahua control around 60% of the total surveillance camera market.

Key Players in the Global Surveillance Cameras Market are:

Robert Bosch GmbH
Panasonic Company
Honeywell International Inc.
Cisco Systems, Inc.
Sony group company
LG Electronics Inc.
Hikvision
Dahua technology
Axis Communications AB
Teledyne Technologies Incorporated
Hanwha Group
Motorola Solutions (Avigilon)
Single view

Some of the strategies of the major players in the surveillance camera market are product launches, mergers, acquisitions, and collaborations. For example, in 2021, Hikvision announced the launch of its new DeepinView bullet network cameras with TandemVu technology, expanding the scope of TandemVu technology from PTZ units to bullet-type models. Whereas Dahua Technology announced that the company’s network camera and video recorder products have passed ETSI EN 303 645 standard.
Read the full report: https://www.reportlinker.com/p06318350/?utm_source=GNW

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